The Dubai Gold and Commodities Exchange (DGCX), the region’s leading derivatives exchange, today announced that it registered a monthly Average Open Interest (AOI) of 208,343 contracts during the month of May, worth a total value of USD 12,853 million.
The Silver Futures Contract recorded a year-to-date (Y-T-D) volume growth of 139% compared to the same period last year.
Continuing its strong performance, the DGCX also saw the newly launched Pakistani Rupee (PKR) Futures Contract grow with a total of 2,028 lots valued at USD 26.38 million traded since its launch in April. Elsewhere, the DGCX’s Indian Rupee Mini Futures Contract recorded a year-on-year (Y-O-Y) Average Daily Volume (ADV) growth of 45% during the month.
May’s trading volume included block trades with a total trade value of USD 763.1 million. DGCX’s wholesale trading facilities, which includes block trades, allows members and market participants to pre-negotiate large value and package transactions without incurring any price slippage.
Les Male, CEO of DGCX, said: “Our Silver Futures Contract demonstrated strong growth last month, which is a testament to the increased global demand for the precious metal over the last year, as well as its reputation as an optimal alternative to gold. Meanwhile, our new PKR Futures Contract also continued to grow in terms of volume and value, as market participants looked to expand their trading opportunities to the Pakistani market.
Going forward, we are fully focused on leveraging our recent partnerships with the Global Islamic Financial Services and S & Royal Group Mongolia - as well as our permit from the Israel Securities Authority (ISA), to bring a host of new and value-added products for the benefit of our member base.”
During the month, DGCX also recently hosted a collaborative webinar entitled ‘What Next in The Middle East?’ with BSO one of its Network Service Provider partners which focused on opportunities for market participants following the DGCX’s approved permit from ISA.
